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12 Aug 2013
Flash: AUD/USD upside risk limited – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.
Key quotes
In terms of the AUD/USD, “Upside should be limited with a strong resistance at 0.9320. The risk is for resumption of downside from here. Support is at 0.9087 ahead of 0.8848, suggesting a bearish outlook.”
Moving to the USD/CAD, “Following the test of resistance at 1.0428, the pair came under sharp selling pressure. There is a strong support at 1.0241. A closing break below this would be negative, suggesting a neutral outlook.”
Key quotes
In terms of the AUD/USD, “Upside should be limited with a strong resistance at 0.9320. The risk is for resumption of downside from here. Support is at 0.9087 ahead of 0.8848, suggesting a bearish outlook.”
Moving to the USD/CAD, “Following the test of resistance at 1.0428, the pair came under sharp selling pressure. There is a strong support at 1.0241. A closing break below this would be negative, suggesting a neutral outlook.”